Can I retire at age 59 with 896,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $896,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.3%
1 years$73,991$73,332$72,689$72,061$71,448$69,051
2 years$36,629$35,947$35,286$34,645$34,023$31,631
3 years$24,177$23,492$22,832$22,197$21,586$19,275
4 years$17,952$17,269$16,616$15,992$15,395$13,182
5 years$14,218$13,539$12,895$12,283$11,703$9,595
6 years$11,729$11,056$10,421$9,823$9,260$7,258
7 years$9,953$9,285$8,660$8,076$7,531$5,635
8 years$8,621$7,959$7,344$6,775$6,248$4,456
9 years$7,585$6,929$6,326$5,771$5,261$3,572
10 years$6,757$6,108$5,515$4,974$4,483$2,893
11 years$6,080$5,437$4,855$4,329$3,856$2,362
12 years$5,517$4,880$4,309$3,797$3,341$1,940
13 years$5,040$4,410$3,850$3,352$2,914$1,602
14 years$4,632$4,009$3,459$2,976$2,554$1,328
15 years$4,279$3,662$3,123$2,654$2,249$1,105
16 years$3,970$3,360$2,831$2,376$1,987$921
17 years$3,697$3,094$2,576$2,135$1,762$770
18 years$3,456$2,859$2,352$1,924$1,567$645
19 years$3,239$2,650$2,153$1,739$1,397$541
20 years$3,045$2,463$1,976$1,575$1,247$454
21 years$2,870$2,294$1,818$1,429$1,116$382
22 years$2,710$2,141$1,675$1,299$1,001$321
23 years$2,565$2,003$1,547$1,183$898$271
24 years$2,432$1,876$1,430$1,079$807$228
25 years$2,310$1,761$1,325$986$726$192
26 years$2,197$1,655$1,229$901$654$162
27 years$2,093$1,557$1,141$825$590$137
28 years$1,997$1,468$1,061$756$532$115
29 years$1,907$1,384$987$693$481$97
30 years$1,824$1,308$919$636$434$82
31 years$1,746$1,236$857$584$393$69
32 years$1,673$1,170$800$537$355$59
33 years$1,605$1,108$747$494$321$50
34 years$1,540$1,050$698$454$291$42
35 years$1,480$996$652$418$264$35
36 years$1,423$945$610$385$239$30
37 years$1,369$898$571$355$216$25
38 years$1,319$853$535$327$196$21
39 years$1,271$811$501$302$178$18
40 years$1,225$772$470$278$161$15
41 years$1,182$735$440$257$146$13
42 years$1,141$700$413$237$133$11
43 years$1,102$667$388$219$121$9
44 years$1,065$635$364$202$109$8
45 years$1,029$606$342$186$99$7
46 years$995$578$321$172$90$6
47 years$963$552$301$159$82$5
48 years$932$527$283$147$74$4
49 years$903$503$266$136$68$3
50 years$875$480$250$126$61$3

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 59 starting with $896,000, adding $6,917 every year, while hoping to spend $20,390 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 72/13/15 Blend
58$896,000$896,000$896,000$896,000
59$994,527$947,039$933,151$1,062,302
60$1,074,274$971,749$942,717$1,132,874
61$1,161,472$996,987$951,919$1,206,987
62$1,256,859$1,022,756$960,726$1,287,610
63$1,361,248$1,049,061$969,100$1,375,384
64$1,475,535$1,075,904$977,004$1,471,013
65$1,600,706$1,103,290$984,400$1,575,275
66$1,737,846$1,131,219$991,246$1,689,025
67$1,888,151$1,159,694$997,497$1,813,206
68$2,052,938$1,188,715$1,003,109$1,948,854
69$2,233,658$1,218,282$1,008,033$2,097,114
70$2,431,908$1,248,394$1,012,219$2,259,245
71$2,649,447$1,279,050$1,015,613$2,436,635
72$2,888,214$1,310,247$1,018,160$2,630,813
73$3,150,344$1,341,981$1,019,800$2,843,464
74$3,438,188$1,374,247$1,020,473$3,076,442
75$3,754,338$1,407,040$1,020,113$3,331,793
76$4,101,646$1,440,351$1,018,653$3,611,770
77$4,483,258$1,474,172$1,016,021$3,918,856
78$4,902,636$1,508,492$1,012,144$4,255,784
79$5,363,596$1,543,299$1,006,942$4,625,570
80$5,870,342$1,578,581$1,000,334$5,031,535
81$6,427,506$1,614,320$992,234$5,477,337
82$7,040,190$1,650,500$982,552$5,967,008
83$7,714,015$1,687,100$971,194$6,504,994
84$8,455,176$1,724,100$958,060$7,096,188
85$9,270,497$1,761,473$943,048$7,745,988
86$10,167,497$1,799,195$926,049$8,460,338
87$11,154,460$1,837,234$906,950$9,245,790
88$12,240,515$1,875,558$885,633$10,109,565
89$13,435,718$1,914,131$861,972$11,059,618
90$14,751,153$1,952,914$835,840$12,104,716
91$16,199,029$1,991,866$807,099$13,254,522
92$17,792,800$2,030,938$775,607$14,519,682
93$19,547,293$2,070,081$741,218$15,911,930
94$21,478,843$2,109,241$703,774$17,444,196
95$23,605,449$2,148,358$663,114$19,130,728
96$25,946,945$2,187,368$619,069$20,987,228
97$28,525,187$2,226,202$571,461$23,031,000
98$31,364,256$2,264,786$520,106$25,281,115
99$34,490,690$2,303,041$464,809$27,758,585
100$37,933,730$2,340,879$405,369$30,486,570